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Renting vs. Buying in Jacksonville in 2026 — The Honest Comparison

22 Monday Jun 2026

Posted by in 55+ Communities, Downsizing, Empty Nesters, Jacksonville

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This is a question we’re hearing more often as interest rates have stayed elevated. “Should we just rent for a while instead of buying right away?”

It’s a legitimate question and the honest answer is: sometimes renting makes sense. But usually, for Jacksonville empty nesters with equity, buying makes more sense. Here’s how to think through it.

The Case for Renting (Temporarily)

There are real situations where renting makes sense as a bridge strategy:

You need time to figure out where you want to land. If you’re genuinely undecided between St. Johns County, Duval, Nassau, or Clay, renting for 6 to 12 months while you explore can help you make a more confident permanent decision.

You want to sell first and take your time buying. In a competitive buying environment, some clients prefer to sell, take their equity out, and shop from a position of strength with cash in hand rather than contingency offers.

You’re considering a significant lifestyle change. If you’re thinking about moving to a different city or state altogether, renting in Jacksonville while you explore makes sense.

The Case Against Long-Term Renting in Jacksonville

For most empty nesters in Jacksonville, long-term renting after selling is financially disadvantageous. Here’s why:

You lose your property tax portability benefit after 3 years. This is potentially thousands of dollars per year in savings that you forfeit.

Rent in Jacksonville has increased significantly. A 2-bedroom apartment or home in a desirable Jacksonville area now rents for $1,800 to $2,800 per month. That’s money out the door every month with no equity building.

You give up the mortgage interest deduction and property appreciation. Over a 5-year period, the difference in wealth building between owning and renting in Jacksonville is typically significant.

You lose stability. Landlords can sell, increase rent dramatically, or not renew leases. Homeownership provides a stability that renting simply cannot.

The Current Numbers in Jacksonville

A 2-bedroom, 2-bathroom home or condo in a desirable Jacksonville area currently costs between $280,000 and $450,000 to buy, and between $1,800 and $2,500 per month to rent.

At current interest rates (roughly 6.5 to 7%), a $350,000 home with 20% down has a monthly payment of approximately $1,870 plus taxes and insurance, bringing the total monthly cost to roughly $2,400 to $2,700.

At first glance, renting looks comparable or even cheaper. But that ignores equity building, portability benefits, appreciation, and stability. The 5-year math almost always favors buying.

Our Honest Advice

If you’re selling and have equity, use it. Don’t let it sit in a savings account while you rent and pay someone else’s mortgage. The only exception is a genuine short-term bridge where you have a clear timeline to buy.

Want to run the rent vs. buy numbers for your specific situation? Call (904) 515-2479

Download our free Right-Sizing Roadmap. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

Is Jacksonville Real Estate Still a Good Investment in 2026? Here Is What the Data Says

15 Monday Jun 2026

Posted by in 55+ Communities, Downsizing, Empty Nesters, Jacksonville

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We get this question a lot, especially from empty nesters who are deciding whether to sell their current home, buy something smaller, or perhaps consider a rental property as part of their retirement picture.

So let’s look at what the data actually says about Jacksonville as a real estate market.

Why Jacksonville Has Been a Strong Market

Jacksonville has several structural advantages that make it a consistently strong real estate market:

Population growth. Jacksonville is one of the fastest-growing large cities in the United States. People are moving here from higher-cost states (particularly the Northeast and California) at a steady rate, and that inbound migration supports housing demand.

Economic diversity. Jacksonville’s economy is anchored by financial services (several major banks and insurance companies have significant operations here), healthcare (Mayo Clinic, Baptist Health, UF Health), military (NAS Jacksonville and Naval Station Mayport), and a growing logistics and technology sector. This diversity provides stability.

Relative affordability. Compared to Miami, Tampa, or Orlando, Jacksonville still offers more home for the dollar. This makes it attractive to buyers relocating from other Florida cities and from out of state.

No state income tax. Florida’s tax environment continues to draw retirees and remote workers who have options about where to live.

What the Appreciation Data Shows

Over the past decade, Jacksonville metro home values have approximately doubled. That’s roughly 7% annual appreciation on average, though the gains were not evenly distributed, with dramatic acceleration in 2020 to 2022 followed by a cooling and stabilization.

Current appreciation rates are more modest at 3% to 6% per year depending on the specific submarket, which is actually healthy and sustainable compared to the overheated pace of a few years ago.

The Honest Risks

No market is without risk. Jacksonville’s specific risks include:

Hurricane and flood exposure, which affects insurance costs and will continue to do so

Concentration of some neighborhoods in flood zones

The broader interest rate environment, which affects buyer purchasing power

Potential softening if major employers reduce their Jacksonville footprint

Our Take

Jacksonville remains one of the more fundamentally sound real estate markets in Florida. It’s not a speculative boom-and-bust market. It’s a city with real population growth, a diverse economy, and relative affordability compared to other major Florida metros.

For empty nesters who own homes here, the equity you’ve built is real and your options are genuinely good.

Want to talk through how to make your Jacksonville real estate equity work harder for you in this phase of life? Call (904) 515-2479 |

Download our free Right-Sizing Roadmap. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

The 6 Florida Real Estate Facts Every Jacksonville Empty Nester Should Know Before Selling

08 Monday Jun 2026

Posted by in 55+ Communities, Downsizing, Empty Nesters, Jacksonville

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Florida has some unique rules, benefits, and quirks that affect the real estate transaction in ways that surprise people from other states or even longtime Floridians who haven’t bought or sold recently.

Here’s our quick guide to the things that matter most for Jacksonville empty nesters.

1. Florida Is a Disclosure State

Florida law requires sellers to disclose any known material defects that affect the value or desirability of the property. This includes things like past flooding, roof leaks, foundation issues, Chinese drywall (still a concern in some post-2000 homes), and HOA issues.

You don’t need to guess what a buyer might care about. You need to disclose what you know. Your agent will walk you through the disclosure process in detail.

2. Florida Has No State Income Tax, But You May Still Owe Capital Gains

Florida has no state income tax, which is wonderful. But the federal capital gains tax still applies to profit from the sale of your home if it exceeds the exemption thresholds.

The good news: if you’ve lived in your home as your primary residence for at least 2 of the last 5 years, you can exclude up to $250,000 of profit (single filer) or $500,000 (married filing jointly) from federal capital gains tax.

Most Jacksonville homeowners who are downsizing fall well within these exclusions. But if you’ve had extraordinary appreciation, talk to your tax advisor.

3. Homestead Exemption Protects You From Creditors, Not Just Taxes

Florida’s homestead law is one of the strongest in the country. It not only reduces your property taxes, it also protects your primary residence from most creditors. This is a benefit that matters to people who run businesses or have financial complexity in their lives.

4. Flood Zones Are a Real Consideration in Jacksonville

Jacksonville is a coastal city on a river. Flood zones are real, and they matter for both property value and insurance costs. Before buying any home in Jacksonville, check the FEMA flood zone designation. Homes in higher-risk flood zones require flood insurance, which can add $1,500 to $5,000 or more per year to your carrying costs.

We always check flood zone status for every home we show clients. You should too.

5. HOA Rules Can Significantly Affect Your Lifestyle

Florida has very strong HOA laws, and many Jacksonville communities have detailed CC&Rs that govern everything from paint colors to parking to whether you can have a vegetable garden. Before you fall in love with a home in an HOA community, read the rules. Really read them.

6. Title Insurance Works Differently in Florida

Florida uses a different system for title insurance than many states. In some counties, the seller traditionally pays for title insurance. In others, the buyer does. In Jacksonville (Duval County), it’s common for the seller to pay for the owner’s title policy. Understanding this affects how you negotiate.

Have questions about any of the Florida-specific nuances of buying or selling in Jacksonville? Call (904) 515-2479 |

Download our free Right-Sizing Roadmap for a full overview of the Jacksonville transaction process. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

The 7 Signs It’s Time to Right-Size Your Jacksonville Home

25 Monday May 2026

Posted by in Jacksonville, 55+ Communities, Downsizing, Empty Nesters

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Sometimes the decision to downsize doesn’t come from a financial spreadsheet. It comes from a feeling. A moment in the house where you look around and think… this doesn’t fit us anymore.

Here are the seven signs we hear most often from clients who knew, before they ever called us, that it was time.

Sign 1: You’re Cleaning Rooms Nobody Uses

If you’re vacuuming bedrooms that haven’t been slept in for years, dusting furniture that has no function, and cleaning bathrooms that exist only for guests who visit twice a year, your home is working harder than it needs to.

Sign 2: The Yard Has Become a Chore, Not a Joy

There’s a version of the backyard that brings joy: weekend barbecues, grandkids playing, a beautiful garden you tend with pride. And there’s another version: a large lawn you pay someone to mow while you’re traveling, or that you’re increasingly dreading on Sunday mornings.

When the yard starts feeling like obligation rather than joy, that’s a sign.

Sign 3: You’re Spending Weekends on Maintenance Instead of Your Life

Gutters. HVAC filters. Roof inspection. Sprinkler systems. Power washing the driveway. These things are real. And in a larger, older home, they can consume weekends that you’d rather spend on literally anything else.

Sign 4: Your Home Feels Like It Was Designed for a Different Season of Life

Three-car garages, mudrooms, multiple living rooms, a formal dining room you use twice a year… these features made perfect sense when life looked a certain way. If your home’s design is optimized for a life you’re no longer living, it’s worth asking whether a home designed for your current life would serve you better.

Sign 5: You’re Avoiding Parts of Your Home

When clients tell us they “never go upstairs anymore” or that certain rooms just collect stuff, that’s a signal. Your home should be a place you inhabit fully and joyfully, not a large building where you live in one corner.

Sign 6: The Financial Freedom You’re Missing Is Real

If your home equity is substantial and your monthly housing costs are high relative to your income in retirement, you may be sitting on a financial asset that could significantly improve your quality of life if unlocked. This is worth a real conversation with both a financial advisor and a real estate professional.

Sign 7: Something Smaller Actually Excites You

This is the most important one. If you’ve driven through Nocatee or toured a beautiful condo in San Marco and felt genuinely excited rather than just resigned, pay attention to that feeling. It’s telling you something true.

If any of these signs resonated with you, let’s talk. Call (904) 515-2479

Request our free Right-Sizing Roadmap to take the next step. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

When Is the Right Time to Downsize in Jacksonville? Here’s How We Think About It

18 Monday May 2026

Posted by in Jacksonville, 55+ Communities, Downsizing, Empty Nesters

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This is probably the question we hear more than any other. And our honest answer is: it depends. But it depends on specific, answerable things. Not vague feelings.

Let me give you the framework Kevin and I use when we sit down with clients who are asking this question.

The Financial Readiness Check

Before anything else, you want to know your numbers. Specifically:

What is your home worth today? Not what Zillow says (Zillow’s estimates can be off by 10-20% in Jacksonville neighborhoods). What would it actually sell for if you listed it tomorrow? If you don’t know this, getting a no-obligation market analysis from us is the smartest first step.

What do you owe? Your current mortgage balance tells you your equity floor.

What does your next home cost? Is there a meaningful price difference between what you’d sell for and what you’d buy? If you’re selling a $450,000 home and buying a $300,000 home, that’s a $150,000 equity unlock that changes your financial life.

What are your carrying costs? If your current home costs $4,000 a month in mortgage, taxes, insurance, and maintenance, and your new home would cost $2,200 a month, you’re freeing up $1,800 a month. That math matters enormously over time.

The Lifestyle Readiness Check

Financial readiness is necessary but not sufficient. Here are the lifestyle questions worth asking honestly:

Are you using more than half your home? If two people are rattling around a 4-bedroom house and only using the master suite, the kitchen, and one living area, you’re paying to maintain space you’re not using.

Is the maintenance becoming a burden? When the house starts to feel like a job rather than a home, that’s a signal.

Do you want more freedom? Smaller homes and condo communities often mean less maintenance, less lawn, and more time for the things that actually matter to you in this phase of life.

Are you staying for the right reasons? “The kids might come back” is not a real reason to keep a 5-bedroom house indefinitely. “We genuinely love this home and this neighborhood and have no desire to change” is a real reason.

The Market Timing Check

The honest truth: trying to time the real estate market perfectly is a fool’s errand. We’ve seen people wait for 5 years for the “perfect” market and miss out on years of a simpler, more enjoyable lifestyle.

What we tell clients is this. The best time to move is when your financial situation is solid, your lifestyle is pulling you toward something different, and you’ve found a home that genuinely excites you. Those three things together make a move feel right, regardless of whether interest rates are at 5.5% or 7%.

Ready to run through this framework for your specific situation? Call or text: (904) 515-2479

Download our free Right-Sizing Roadmap which walks through every step of this readiness assessment. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

5 Things Nobody Tells You About Buying a Smaller Home in Jacksonville

11 Monday May 2026

Posted by in Jacksonville, 55+ Communities, Downsizing, Empty Nesters

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Here’s something we’ve noticed after helping over 1,200 Jacksonville families buy and sell homes. When people are downsizing, they spend a lot of time thinking about what they’re leaving behind. The big house, the extra rooms, the yard they’ve spent years perfecting.

What they don’t spend enough time thinking about is what they’re gaining. And what to watch out for in a smaller home that they might not expect.

So here’s the honest list of things we wish more clients knew before they started shopping.

1. Storage Becomes Your Number One Conversation

When you go from 2,800 square feet to 1,600 square feet, the thing that surprises people most isn’t the size of the living room. It’s the storage. Specifically, the lack of it.

Before you fall in love with a smaller home, count the closets. Look at the garage. Ask whether there’s attic storage. The homes that work best for downsizers are the ones where the square footage is smartly designed, not just smaller.

2. Outdoor Space Can Replace Indoor Space

The empty nesters who adjust most happily to a smaller home are almost always the ones who gained meaningful outdoor space in the trade. A screened lanai in Jacksonville is basically a third living space for 9 months of the year.

When you’re evaluating smaller homes, don’t just look at interior square footage. Look at the outdoor living potential. A 1,600 square foot home with a beautiful screened porch and private backyard can feel bigger than a 2,000 square foot home with a tiny lot.

3. Your Monthly Costs Will Probably Drop More Than You Expect

Property taxes, homeowners insurance, utilities, maintenance, lawn care… all of it scales with the size and value of your home. Our clients consistently tell us they’re spending $500 to $1,000 less per month on housing-related costs after downsizing, even if their mortgage payment didn’t change much. That’s real money that goes toward travel, experiences, and enjoying this phase of life.

4. Location Matters More When You Have Less Space

In a larger home, if you don’t love your neighborhood you can mostly just stay inside. In a smaller home, your surroundings become part of your living experience. The walkability, the neighbors, the nearby amenities… it all matters more.

This is why we always tell downsizing clients: don’t just buy the home. Buy the neighborhood.

5. The Emotional Part Is Real and Worth Acknowledging

Moving out of the home where you raised your family is not a simple transaction. It’s an emotional experience that deserves to be honored. We’ve seen clients who were 100% logically ready to move but weren’t emotionally ready, and rushing it created regret.

There’s no shame in taking your time. The right home will still be there when you’re ready. What we’d encourage is this: don’t let the emotional weight of leaving your old home prevent you from imagining the joy of your new one.

We’re here for both the practical and the personal side of this journey. Call or text: (904) 515-2479

Request our free Right-Sizing Roadmap which covers both the financial and emotional aspects of downsizing. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

Mandarin, San Marco, and Riverside — The Best Jacksonville Neighborhoods for Downsizers Who Want to Stay in Duval

04 Monday May 2026

Posted by in Jacksonville, 55+ Communities, Downsizing, Empty Nesters

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Not every empty nester wants to move to a master-planned community in St. Johns County. Some of our favorite clients are the ones who say “I love Jacksonville, I just want a smaller, better home in the city I already love.”

If that sounds like you, these three Duval County neighborhoods belong at the top of your list.

Mandarin: Established, Wooded, and Beloved

Mandarin is the southernmost established neighborhood of Jacksonville proper, and it has a character unlike anywhere else in the city. Towering oak trees draped in Spanish moss, a historic riverfront district, and a mix of older established homes and newer developments.

Why downsizers love Mandarin:

You can find smaller, well-maintained homes at very reasonable prices ($250,000 to $450,000)

The Mandarin community has a genuine neighborhood identity that’s rare in suburban Jacksonville

Close to excellent dining along the river and easy access to I-295

The Julington Creek Plantation area within Mandarin offers great amenities

Feels suburban but not generic

Good to know: Mandarin has a lot of variety. Some streets feel very established and wooded. Others are newer subdivisions. Working with an agent who knows the micro-neighborhoods within Mandarin matters.

Price range for downsizers: $250,000 to $500,000

San Marco: Walkable, Charming, and Surprisingly Affordable for Its Character

San Marco is one of Jacksonville’s most beloved urban neighborhoods, sitting along the St. Johns River about 10 minutes from downtown. Its town square with independently owned restaurants, shops, and a historic movie theater gives it a walkability and charm that’s hard to find elsewhere in Jacksonville.

Why empty nesters love San Marco:

You can actually walk to dinner, coffee, and errands. That’s rare in Jacksonville.

Beautiful older homes with real character, many of them smaller and perfect for right-sizers

Close to the river, Memorial Hospital, and downtown

A vibrant, mixed-age community that feels alive

Good to know: San Marco’s housing stock is older, which means you need to be thoughtful about inspection and potential maintenance. The best homes in San Marco sell quickly.

Price range for downsizers: $350,000 to $700,000

Riverside and Avondale: Historic, Artsy, and Full of Life

Riverside and Avondale are adjacent historic neighborhoods northwest of downtown Jacksonville. They’re the most urban of the three, with a thriving arts scene, excellent independent restaurants (the Five Points district is a favorite), and beautiful historic architecture.

Why downsizers love Riverside/Avondale:

The most walkable neighborhoods in all of Jacksonville

Historic homes with incredible architectural character

Close to the Cummer Museum of Art, independent shops, and some of Jacksonville’s best dining

A real neighborhood identity that makes you feel like you live somewhere special

Good to know: Riverside and Avondale homes require attention. Many are older and need updating. Flood zones are a factor in some areas. Parking can be limited. But for the right person, there’s nowhere better in Jacksonville.

Price range for downsizers: $300,000 to $600,000

Want a personal tour of any of these neighborhoods? Call or text: (904) 515-2479

Download our free Right-Sizing Roadmap which includes a neighborhood fit worksheet. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside Hanley Home Team HanleyHomeTeam.com

Ponte Vedra vs. Fleming Island — Which Is Better for the 55+ Lifestyle in Jacksonville?

04 Monday May 2026

Posted by in 55+ Communities, Downsizing, Empty Nesters, Jacksonville

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Two of the most popular destinations for Jacksonville empty nesters and downsizers are Ponte Vedra and Fleming Island. They’re both lovely. They’re also very different. And choosing the wrong one for your lifestyle is a mistake we’d love to help you avoid.

Let’s compare them honestly.

Ponte Vedra: Coastal Luxury and Established Elegance

Ponte Vedra is one of the most prestigious addresses in Northeast Florida. It sits along the Atlantic coast in St. Johns County and has long been home to Jacksonville’s professional class, with tree-lined streets, golf courses (it’s home to TPC Sawgrass and THE PLAYERS Championship), and ocean access.

What empty nesters love about Ponte Vedra:

Proximity to the beach — some neighborhoods are walking distance to the ocean

Established, mature community with a real sense of place

Excellent dining, shopping, and medical facilities nearby

High resale value — Ponte Vedra homes hold their value exceptionally well

A mix of older custom homes and newer communities

What to consider:

Higher price points, generally $450,000 and up for a downsized home

Some older neighborhoods have larger lots and bigger homes, which isn’t always what downsizers want

Traffic on A1A and US-1 can be significant

You’re paying a premium for the address

Price range for downsizers: $450,000 to $900,000+

Fleming Island: Value, Amenities, and a Friendly Community Feel

Fleming Island is in Clay County, southwest of Jacksonville along the St. Johns River. It’s not as flashy as Ponte Vedra, but it has a loyal following of residents who love its combination of affordability, amenities, and genuine community feel.

What empty nesters love about Fleming Island:

More affordable than either Duval urban neighborhoods or St. Johns coastal areas

Fleming Island Plantation has excellent amenities including pools, tennis, and trails

The St. Johns River is beautiful and there’s real waterfront access

Quieter and less congested than the Ponte Vedra corridor

Newer construction is available at reasonable prices

What to consider:

Further from the beach (about 45 minutes to the nearest Atlantic beach)

More car-dependent

Less urban energy if that’s something you enjoy

Clay County’s infrastructure and medical facilities are less robust than Duval or St. Johns

Price range for downsizers: $280,000 to $500,000

The Bottom Line

Choose Ponte Vedra if the beach matters to you, you want a prestigious address, and you have the budget for it.

Choose Fleming Island if you want more house for your money, love a river community feel, and prioritize value and a friendly neighborhood atmosphere.

Want to tour both areas and see what feels right? Call or text: (904) 515-2479

Request our free Right-Sizing Roadmap for a full neighborhood evaluation guide. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

What Jacksonville Home Prices Actually Look Like Right Now and What That Means for Downsizers

13 Monday Apr 2026

Posted by in 55+ Communities, Downsizing, Empty Nesters, Jacksonville

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One of the most common things we hear from empty nesters and downsizers is something like: “I think my house has gone up in value, but I don’t really know what it’s worth now.”

Fair. And important. Because that number, your home’s current value minus what you owe, is the foundation of everything. It’s what makes your next chapter possible.

So let’s talk real numbers for Jacksonville right now.

The Equity Picture for a Typical Jacksonville Empty Nester

Let’s say you bought a 4-bedroom home in the Mandarin area of Jacksonville in 2014 for $250,000. You’ve been paying down your mortgage for 12 years and home values in that area have increased significantly.

Here’s a rough snapshot of what that might look like today:

Current estimated value: $380,000 to $420,000

Remaining mortgage (rough estimate after 12 years): $140,000 to $160,000

Estimated equity: $220,000 to $280,000

That’s a significant number. And that number is what funds your next move, whether it’s a smaller home in the same area, a condo near the water, or a new construction community in St. Johns County.

Where Are Downsizers Actually Landing in Jacksonville?

Based on what we’re seeing with our clients, the most popular landing spots for empty nesters and downsizers right now are:

Nocatee (St. Johns County): New construction, amenity-rich, $350,000 to $550,000 range for 2BR to 3BR homes

Ponte Vedra/Palm Valley: Established neighborhood feel, closer to the beach, $400,000 to $700,000

Fleming Island (Clay County): More affordable, great amenities, $280,000 to $400,000

San Marco/Riverside (Duval): Walkable, vibrant, older homes with character, $300,000 to $600,000

Amelia Island/Fernandina Beach (Nassau): Slower pace, coastal feel, $350,000 to $600,000

The Math That Actually Matters

If you sell your 4-bedroom for $400,000 and net $260,000 after paying off your mortgage and closing costs, and you buy a 2-bedroom home for $350,000, you’re either putting $260,000 down (hello, low mortgage!) or pocketing some of that equity for retirement, travel, or that deck renovation you’ve been dreaming about.

That’s a life-changing financial move. And Jacksonville’s market right now makes it very achievable.

Curious what your specific home is worth and what your equity picture looks like? Call or text: (904) 515-2479

Download our free Right-Sizing Roadmap to see exactly how the numbers work for your situation. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com

Downsizing in Florida? Here Is Exactly What Happens to Your Property Tax Portability

07 Tuesday Apr 2026

Posted by in 55+ Communities, Downsizing, Empty Nesters, Jacksonville

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We touched on portability in our last post, but this topic deserves its own deep dive because we see confusion about it constantly. And the confusion is costing Jacksonville homeowners real money.

Let’s get specific.

The Three Scenarios You Need to Understand

Scenario 1: You downsize to a less expensive home

If your new home has a lower market value than your old home, your portability benefit is prorated. You transfer a percentage of your benefit equal to the ratio of the new home’s value to the old home’s value.

Example: Your old home was worth $500,000 with a $200,000 benefit. Your new home is worth $300,000, which is 60% of your old home’s value. You can transfer 60% of your $200,000 benefit, which equals $120,000.

So your $300,000 new home gets assessed at $180,000 in the first year. That’s a substantial savings.

Scenario 2: You move to an equally priced or more expensive home

You can transfer your full benefit, up to the $500,000 cap. If your benefit was $200,000 and your new home is worth $450,000, your new home gets assessed at $250,000 instead of $450,000. That’s roughly $2,500 to $4,000 in annual tax savings depending on the millage rate.

Scenario 3: You wait too long

Here’s the one that hurts people. You have THREE YEARS from when you abandon your previous homestead to claim portability on a new Florida home. If you sell your Jacksonville home, rent for four years while you figure out your next move, and then buy again, you may have lost your portability benefit entirely.

This is a real reason to think carefully about timing if you’re considering renting in between.

The Filing Process

File for homestead exemption AND portability at the same time using Form DR-501 (homestead) and Form DR-501T (portability transfer) at your county Property Appraiser’s office. In Duval County that’s the Duval County Property Appraiser. In St. Johns County, it’s the St. Johns County Property Appraiser.

Do this as soon as possible after closing on your new home, and make sure it’s done before the March 1 deadline.

The Bottom Line

Portability is a genuinely significant financial benefit for Florida homeowners who have been in their homes for many years. Don’t leave it on the table by not understanding how it works or by waiting too long to buy your next home.

We help our clients navigate every aspect of the financial side of moving, including property taxes. Call (904) 515-2479 |

Request our free Right-Sizing Roadmap which includes a full property tax guide for Jacksonville downsizers. Request yours here.

Kevin and Jennifer Hanley, REALTORS® | KW Atlantic Partners Southside The Hanley Home Team HanleyHomeTeam.com